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ceiling. this measure suspends the government's borrowing limit to may 19th. the national debt will be pushing $17 trillion. in other words, it's really washington's version of kicking the can down the road. the president is expected to sign this bill immediately. >>> now to the economy and the financial markets. stocks fell a bit today with all three major indexes modestly lower. but for the month, the dow was up almost 6%, the best since january in '94. nasdaq gained 4%, s&p just over 6. its best january since '97. what is the market surge trying to tell us when mixed in with some bad news out there, as well? and on the eve of another big jobs report? our report from nbc's tom costello. >> reporter: 25-year-old kory wilson can tell you, it's not easy looking for a job. she has applied for 200 since earning a master's degree in public relations last may. >> being a post graduate, either i'm overqualified or i'm underqualified. >> she is looking for work, but the economy seemingly poised to ei
ceiling. this measure suspends the government's borrowing limit to may 19th. the national debt will be pushing $17 trillion. in other words, it's really washington's version of kicking the can down the road. the president is expected to sign this bill immediately. >>> now to the economy and the financial markets. stocks fell a bit today with all three major indexes modestly lower. but for the month, the dow was up almost 6%, the best since january in '94. nasdaq gained 4%, s&p just...
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Feb 1, 2013
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that debt ceiling vote the senate has approve it, the house already did so we can borrow morgan to pay our bills through may. congress at that point will have to deal with it again. richard? >> tracie potts in washington. thank you. new yorkers are waking up to the news of the passing of an icon, one of the city's and nation's most outspoken and popular politicians, ed koch has died of congestive heart failure. he served in world war ii and later was elected to three terms as mayor of new york city. ed koch dead at the age of 88. dramatic and contention day of testimony for senator charlie hagel. >> reporter: john mccain seized on hagel's opposition to the surge in iraq. >> the question is, are we right or wrong? that's a pretty straightforward question. >> well, i'm not going to give you a yes or no answer. >> reporter: over his 2008 comments related to israel that a quote jewish lobby intimidate a lot of people in congress. >> name one person in your opinion who is intimidated by the israeli lobby in the united states senate. >> well, first -- >> name one. >> i don't know. >> reporte
that debt ceiling vote the senate has approve it, the house already did so we can borrow morgan to pay our bills through may. congress at that point will have to deal with it again. richard? >> tracie potts in washington. thank you. new yorkers are waking up to the news of the passing of an icon, one of the city's and nation's most outspoken and popular politicians, ed koch has died of congestive heart failure. he served in world war ii and later was elected to three terms as mayor of new...
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Feb 4, 2013
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. > let me ask you quickly about- we've got sequestration coming up, we've got the debt ceiling, so congress is still a factor here. any worries that, now that we have passed the fiscal cliff for the moment, that those two items might cause some trouble? > > absolutely. i am still worried about that. i think, longer-term, i have mentioned that there are a lot of positive things in this country that are actually occurring. energy revitalization and independence, i think that gets undersold. the fact that our labour force is now competitive. i think longer- term those are good things. my question is how quickly we get there, and there are all kinds of speed bumps before we kind of get to that end-state nirvana. and the big factor that holds the key to that is what happens in congress. > brent schutte. thanks so much. > > thank you. the big easy is working mighty hard to make a big comeback. we'll see what's new in new orleans, next. as the monday morning quarterbacking gets underway, we wanted to give special attention to the real winner of the super bowl: new orleans. joining us via skype thi
. > let me ask you quickly about- we've got sequestration coming up, we've got the debt ceiling, so congress is still a factor here. any worries that, now that we have passed the fiscal cliff for the moment, that those two items might cause some trouble? > > absolutely. i am still worried about that. i think, longer-term, i have mentioned that there are a lot of positive things in this country that are actually occurring. energy revitalization and independence, i think that gets...
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the senate passed the bill to raise the debt ceiling. without it, the government would have to default on obligations as soon as mid- february. >>> one of d.c.'s area neighborhood advisory commissioners wants to limit the sale of ski masks. >> this comes after several people were robbed by gunmen wearing ski masks. gary nurenberg has the story. >> reporter: a prince george's county armed robbery. can't see the guys because of the ski masks. a 7-eleven robbery, three guys, can't see any of their faces because of the ski masks. d.c.'s fourth police district. look at the list serve and you see? >> a number of reports that people are assaulted with folks with ski masks on, black ski masks. >> reporter: neighborhood advisory -- this woman should know. >> i saw the man pulling a ski mask over his face and standing in the middle of the road in my path. and so i basically focused on his face between the parked cars and him and that car took off really fast. >> reporter: a week ago tuesday, 13th and varnum, armed robber, ski mask, woman loses her
the senate passed the bill to raise the debt ceiling. without it, the government would have to default on obligations as soon as mid- february. >>> one of d.c.'s area neighborhood advisory commissioners wants to limit the sale of ski masks. >> this comes after several people were robbed by gunmen wearing ski masks. gary nurenberg has the story. >> reporter: a prince george's county armed robbery. can't see the guys because of the ski masks. a 7-eleven robbery, three guys,...
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Feb 6, 2013
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. >>> well, first we had the fiscal cliff crisis and then the debt ceiling drama. now president obama is calling on congress to get past the next term we all need to turn, the sequester. big, across-the-board spending cuts that are due to take effect the 1st of march. the president called today for a limited package of spending cuts and tax reforms to avoid the deadline. republican speaker of the house john boehner rejected that, saying republicans want a bigger agreement on a long-term deficit reduction plan. the white house also announced today president obama will be going to israel this spring for the first time since taking office. israeli media say he's due to arrive march 20th, though the white house would not confirm any of the travel dates. >>> we are learning much more tonight about the breaking story we brought you here last night. the dramatic rescue of a 5-year-old boy after a standoff in alabama that lasted almost a week. nbc's gabe gutierrez is with us tonight from midland city, alabama. gabe, good evening. >> reporter: brian, good evening. today eth
. >>> well, first we had the fiscal cliff crisis and then the debt ceiling drama. now president obama is calling on congress to get past the next term we all need to turn, the sequester. big, across-the-board spending cuts that are due to take effect the 1st of march. the president called today for a limited package of spending cuts and tax reforms to avoid the deadline. republican speaker of the house john boehner rejected that, saying republicans want a bigger agreement on a...
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debt ceiling is you cannot borrow, so you have to balance the budget tomorrow. in addition to that, there was the kind of not very real threat that we might default on the national debt or postpone payments, so you're playing with a combination of a big fiscal contraction and the possibility of triggering a financial crisis also. lori: i want to ask you about your book. after the music stopped, but about the financial crisis, to a dozen 7-8. looking back, said always 2020, what were the best actions taken by the federal government and the worst? >> at think there were three. in net you a tie for first? >> you know how tv works. >> one was tart. very unpopular, but effective and turn a profit for the taxpayer. second was the stimulus that we were just talking about. could have been better. was not a perfect stimulus bill, a pretty good given the political constraints. third, what almost no one ever talks about, the bank stress test. to me the banks stress test and this compared pedestrian 2009 was the equivalent of the fdr bank holiday. once was over people felt
debt ceiling is you cannot borrow, so you have to balance the budget tomorrow. in addition to that, there was the kind of not very real threat that we might default on the national debt or postpone payments, so you're playing with a combination of a big fiscal contraction and the possibility of triggering a financial crisis also. lori: i want to ask you about your book. after the music stopped, but about the financial crisis, to a dozen 7-8. looking back, said always 2020, what were the best...
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debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death certificate. >> narrator: for his part, the president decided to try something new: personal politics. he figured he could connect to the republican leader, john boehner. >> obama told his staff, john boehner is a country club republican, a golf-playing, cigarette smoking deal-maker. >>arrar: t predent invited boehner to play golf with him at andrews air force base. >> and afterward, they go back to the clubhouse, and they're having a drink; there's a photo op. and it's at that point when boehner says to the president, "hey, you know, on this debt ceiling stuff, we ought to do something big." >> nar
debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death...
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Feb 2, 2013
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so as congress agrees to delay a showdown over the debt ceiling and faces a march 1 deadline for across the board spending cuts, what to make of this darned economy, david? >> am i supposed to answer that? it is confusing. the stock market is up. employers are hiring, very slowly. the government now tells us that hey -- they hired a lot more last year than previously believed. auto seafls are up 14% from last year. housing sales are coming back. on the other hand the economy took a pause at the end of last year? unemployment is very high, 7.9%. among men between 25 and 54 one out of six is not working. so i think when you cut through all this what do you see? well, the stock market is going like this and the economy is going like this. that can't last. i can't explain the stock market except maybe there was a gigantic sigh of relief. the republicans aren't going to force the u.s. freshry due default and the europeans aren't going to blow themselves up economically. you see an economy that's growing -- slowly. growing is better than not growing. the europeans are trying the not growing t
so as congress agrees to delay a showdown over the debt ceiling and faces a march 1 deadline for across the board spending cuts, what to make of this darned economy, david? >> am i supposed to answer that? it is confusing. the stock market is up. employers are hiring, very slowly. the government now tells us that hey -- they hired a lot more last year than previously believed. auto seafls are up 14% from last year. housing sales are coming back. on the other hand the economy took a pause...
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Feb 3, 2013
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ceiling. they get the problems down the road-- >>> that's the problem -- >> well, joe. that is true. but the point about small business driving the economy. what is the biggest impediment? $1 trillion in new taxes that the president has imposed and also obamacare. let's be honest. the senate democrats don't move without the white house's okay -- >> well, actually i. the president needs to pass a budget and get serious, honestly about the debt and the regulation. he has 6,000 new regulations on the epa web site that i promise are going to hinder small business growth. i agree with you. both parties are to claim. but the president needs to take an honest look in the mirror. >> eric: how do we break this? where do you go for daylight? how do we get rid of the gridlock? >> if i could, thank you. i think we need to look at this in perspective. we know during the bush era, there were more epa regulations passed in the first four years of president obama's tenure. the real issue is, what small busine
ceiling. they get the problems down the road-- >>> that's the problem -- >> well, joe. that is true. but the point about small business driving the economy. what is the biggest impediment? $1 trillion in new taxes that the president has imposed and also obamacare. let's be honest. the senate democrats don't move without the white house's okay -- >> well, actually i. the president needs to pass a budget and get serious, honestly about the debt and the regulation. he has...
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the debt ceiling, which does not one thing to add to the budget deficit. not one nickel of spenning, it's agreeing to pay the bill. we waited seven months and threaten ord credit rating. the american people are sick of that. they want action. they want their taxes low, as we just saw happen reinly in avoiding the fiscal cliff -- which came as i might add through bipartisanship. the republicanses came through with the table to what obama proposed and he compromised with raising it to the $4,000 level. that's the action that people want to see. >> speaking of our president, he said during obamacare, oh, you're premiums wouldn't be raised. sorry, david. that's exactly what we are seeing -- >> when 2014 comes along -- [overlapping dialogue] >> americans are not able to keep their health insurance. another thing the president promised. >> i have to say, after an absence of david being out, with personal issues and health issues, we are glad to see you back. >> it's a pleasure to be back. >> happy to have you both. >> a bus transporting a philadelphia youth grou
the debt ceiling, which does not one thing to add to the budget deficit. not one nickel of spenning, it's agreeing to pay the bill. we waited seven months and threaten ord credit rating. the american people are sick of that. they want action. they want their taxes low, as we just saw happen reinly in avoiding the fiscal cliff -- which came as i might add through bipartisanship. the republicanses came through with the table to what obama proposed and he compromised with raising it to the $4,000...
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>> i like the metaphor claire mccaskill had when they raised the debt ceiling for three months. they are like death penalty appeals. every minute, every time they have a short term fix, people are brought to the brink again. the american people are brought to the brink again. i thought it was heartening to hear from harry reid he was interested in it's not just defense talks we are talking ant. there's $500 billion in domestic cuts. once people realize republicans want to hold the economy hostage over tax cuts for the rich and even the tiny amount of concession made before was not enough for them. they start to see the impact of the cuts. i think they may have to come to the table. >> really quick in terms of march 1st, are we going to punt and have this conversation in the summer or get something done and have this fixed once and for all? robert? >> it seems like based on history we are going to punt on this again. as i said before, republicans have done a good job of keeping the democrats and the white house in defense. if history is our guide, i'm not surprised if we kick the
>> i like the metaphor claire mccaskill had when they raised the debt ceiling for three months. they are like death penalty appeals. every minute, every time they have a short term fix, people are brought to the brink again. the american people are brought to the brink again. i thought it was heartening to hear from harry reid he was interested in it's not just defense talks we are talking ant. there's $500 billion in domestic cuts. once people realize republicans want to hold the economy...
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ceiling. hallie jackson come wbal-tv 11 news. >> seeing a shift for the super bowl. the commercials are more of a start than the players. jane king has the bloomberg business report. veggies over pizza? >> i know. i'm not sure if i believe that. lockheed martin is seeing record profits on the horizon. the cfo says the company is not looking at any planned job reductions. facebook is trying out gift cards to get users stay on the site longer. now they include target. a down day for the markets yesterday. futures this morning are looking positive. we do get the january jobs report ahead of the opening bell. an executive says under armour is looking to hire outside talent this year and looking to beef up their presence overseas. ravens fever is sweeping baltimore. 91% of the people watching the game are looking for to the commercial. ads to be aer the a big part of the game. at the new york stock exchange, i'm jane king, bloomberg news, for wbal-tv 11 news. >> now weather and traffic together on
ceiling. hallie jackson come wbal-tv 11 news. >> seeing a shift for the super bowl. the commercials are more of a start than the players. jane king has the bloomberg business report. veggies over pizza? >> i know. i'm not sure if i believe that. lockheed martin is seeing record profits on the horizon. the cfo says the company is not looking at any planned job reductions. facebook is trying out gift cards to get users stay on the site longer. now they include target. a down day for...
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but i think that maybe part of what we are seeing on the debt ceiling is the last fight over the debt ceiling back in the summer of 2011 turned out to be a terrible self-inflicted wound for the american economy. we saw consumer confidence plummets, our debt got downgraded. i think that's part of why i think even republicans who care very much about spending are nervous to use as a bargaining chip again, precisely we saw how damaging bringing into question the credit worthiness of the american government was. so am hopeful that we won't keep fighting over this, that we'll have the right fight, which is what she' just any become whicho about the deficit, and not should we pay the bill. i think that's a terrible what. >> and there's a very interesting question about whether, in retrospect, whether republicans leveraging the debt limit in the summer of 2011 could get a bill that cut spending by one to $2 trillion going forward, whether, in fact, that was worth it. because what they did was they introduce liquidity rates by saying hey, if you don't cut spending when not going to vote for a
but i think that maybe part of what we are seeing on the debt ceiling is the last fight over the debt ceiling back in the summer of 2011 turned out to be a terrible self-inflicted wound for the american economy. we saw consumer confidence plummets, our debt got downgraded. i think that's part of why i think even republicans who care very much about spending are nervous to use as a bargaining chip again, precisely we saw how damaging bringing into question the credit worthiness of the american...
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. >>> president obama is expected to sign legislation to raise the nation's debt ceiling. they passed a bill that exends the ability to borrow new -- extends the ability to borrow new money. the measure suspends the $16.4 trillion debt limit and requires congress to pass is a budget by april. >>> judge in san francisco heard arguments on a motion to throw out the city of oakland's lawsuit. the feds want to sees the property because they say it is in violation of the controlled substances act. the city sued saying it would create a problem for people who need marijuana to treat their medical conditions. the judge did not indicate when she would rule on the motion. >>> this is not your grandfather's world, still ahead. >> get to know them better. >> some children take on police officers on the basketball court. but it wasn't all about hoops. the bigger message game. >>nd how much womber can the temperatures -- warmer can the temperatures get and will it last into your bay area weekend? i am back here in 10 minutes with all the details. hmm, it says here that cheerios helps l
. >>> president obama is expected to sign legislation to raise the nation's debt ceiling. they passed a bill that exends the ability to borrow new -- extends the ability to borrow new money. the measure suspends the $16.4 trillion debt limit and requires congress to pass is a budget by april. >>> judge in san francisco heard arguments on a motion to throw out the city of oakland's lawsuit. the feds want to sees the property because they say it is in violation of the controlled...
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in exchange for temporarily suspending the debt ceiling debate. the bill requires lawmakers in both chambers of congress, to pass a budget by mid-april. or have their pay withheld. the measure now advances to president obama's desk to be signed into law. >> the next time a child is abducted near you, your cell phone may shriek to life with an alert message. a new national amber alert system officially rolled out to millions of cell phones. the alerts are automatically active on most newer phones. and they've already taken tens of thousands of people by surprise. the newly-expanded emergency alert system is one way fema is trying to update how it reaches people with new technology. >> today marks the 10th anniversary of the space shuttle columbia disaster, which killed all seven crew members. following the disaster, nasa re-named a weather balloon launch facility to honor those on the shuttle. with the large amount of debris that fell nearby, the facility became a makeshift collection site. today the balloon facility is one of 62 launch sites in th
in exchange for temporarily suspending the debt ceiling debate. the bill requires lawmakers in both chambers of congress, to pass a budget by mid-april. or have their pay withheld. the measure now advances to president obama's desk to be signed into law. >> the next time a child is abducted near you, your cell phone may shriek to life with an alert message. a new national amber alert system officially rolled out to millions of cell phones. the alerts are automatically active on most newer...
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in exchange for temporarily suspending the debt ceiling. the bill requires lawmakers in both chambers of congress to pass a budget by mid- april. or have their pay withheld. it now advances to president obama's desk to be signed into law. >> the road to confirmation will not be a smooth one for former senator chuck hagel. hagel is president obama's nominee to be the next defense secretary. in the first day of confrontational confirmation hearings, some lawmakers picked apart hagel's record and his positions on key issues. facing his critics, former senator chuck hagel had this message to lawmakers during his confirmation hearing on capitol hill. >> we cannot allow the work of confronting the great threats we face today to be held hostage to partisanship on either side of the aisle. the stakes are too high. other critics say he has expressed questionable support for israel. despite mainly republican and conservative detractors, hagel is expected to win confirmation. even national polls show most americans support hagel's nomination to replac
in exchange for temporarily suspending the debt ceiling. the bill requires lawmakers in both chambers of congress to pass a budget by mid- april. or have their pay withheld. it now advances to president obama's desk to be signed into law. >> the road to confirmation will not be a smooth one for former senator chuck hagel. hagel is president obama's nominee to be the next defense secretary. in the first day of confrontational confirmation hearings, some lawmakers picked apart hagel's...
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and certainly, anything that washington does as we saw with the first debt ceiling negotiations, anything that washington does that adds to the uncertainty certainly doesn't help the economy. so i think most people would like to see these people sort of get their act together before the deadline, hopefully. >> well, in fact, senator roy blunt just blamed uncertainty. let me play that. >> uncertainty is probably even a greater problem than contraction. if we knew what the government spending was going to be with some certainty, that would be better than this constant not knowing. we're on the 60-day clock and then on the 90-day clock. we need to get on a four and five-year clock. and that's why a budget and appropriations bills will make a difference, chuck. >> what are the chances, michael, of those things happening? >> well, you know, i think a long-term solution doesn't look very practical right now. and one reason is that members of congress like mr. blunt, republicans, are -- i think that it's more important not to give more ground on taxes than it is to create certainty. so i think e
and certainly, anything that washington does as we saw with the first debt ceiling negotiations, anything that washington does that adds to the uncertainty certainly doesn't help the economy. so i think most people would like to see these people sort of get their act together before the deadline, hopefully. >> well, in fact, senator roy blunt just blamed uncertainty. let me play that. >> uncertainty is probably even a greater problem than contraction. if we knew what the government...
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ceiling, whether it comes to chuck hagel or immigration reform. what do you think about all of that? >> well, it's funny. i am an old democrat as they say. so i remember the days when the republicans were all united. we democrats would get in a circle and start shooting inward. there was a sense in which everything has changed in the opposite way. you have got a very united democratic party standing toe-to-toe with the president. and you have got republicans bitterly divided so the way you get majorities right now is the democrats pick off republicans and leave the rest of the republicans out in the cold. if i were republican i would not be very happy right now. >> you mentioned the democrats have been through periods like this in the past. then along came bill clinton, for example. he nudged the party toward the center. the democrats started winning some elections. do you think if you take a look at what's going on with republicans from your side of the aisle that maybe something like that is going to be necessary in order for the republican part
ceiling, whether it comes to chuck hagel or immigration reform. what do you think about all of that? >> well, it's funny. i am an old democrat as they say. so i remember the days when the republicans were all united. we democrats would get in a circle and start shooting inward. there was a sense in which everything has changed in the opposite way. you have got a very united democratic party standing toe-to-toe with the president. and you have got republicans bitterly divided so the way...
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Feb 5, 2013
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if republicans had time to this issue and said, you know, were not going to raise the debt ceiling unless at a certain amount of cuts, they would've caved in the end, would've been disastrous, much like what the fiscal cliff and i think boehner and right together did a very nice job convincing republicans that you can't govern from the house, but sure to be careful about getting into these high-profile, high-stakes, last-minute negotiations with the president. it worked in the white house, i worked in three administrations. they have a tremendous institutional at vantage in this kind of bias. i think what republicans have to do is avoid these sites come at the straps the democrats and president obama are laying, provide an alternative to passing legislation, just to show them this is how we recover if we have the powers of the presidency and the senate and to be careful and frankly the rougher edges republicans sometimes have. >> host: some republicans aren't happy sr is moving ahead. >> guest: i think if they had gone ahead, it would have been cataclysmic for the republican party. i say
if republicans had time to this issue and said, you know, were not going to raise the debt ceiling unless at a certain amount of cuts, they would've caved in the end, would've been disastrous, much like what the fiscal cliff and i think boehner and right together did a very nice job convincing republicans that you can't govern from the house, but sure to be careful about getting into these high-profile, high-stakes, last-minute negotiations with the president. it worked in the white house, i...
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there's the fiscal cliff, the debt ceiling. now the sequester. i mean, we're now talk about perhaps $85 billion in spending cuts in 2013 if they don't get their act together on the sequester. that's pointing exactly in the opposite direction. so the fed is kind of setting the table but not getting the support from the congress on the fiscal side. >> so given the looming debt ceiling limit here, this week on morning joe the "new york times" economist argued why the u.s. should spend now and worry about deficit reduction later. here it is. >> dashing spending when you still have depressed economy is really destructive. it's probably even counterproductive even in purely fiscal terms. we should be sustaining government spending until we have a stronger economic recovery. >> this is not a hard call. as long as we have 4 million people who have been unemployed for more than a year, this is not a time to be worrying about reducing the budget deficit. give me something that looks more like a normal employment situation and i'll become a deficit hawk but
there's the fiscal cliff, the debt ceiling. now the sequester. i mean, we're now talk about perhaps $85 billion in spending cuts in 2013 if they don't get their act together on the sequester. that's pointing exactly in the opposite direction. so the fed is kind of setting the table but not getting the support from the congress on the fiscal side. >> so given the looming debt ceiling limit here, this week on morning joe the "new york times" economist argued why the u.s. should...
SFGTV2: San Francisco Government Television
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ceiling controversy in washington. >> my favorite book just recently, and i tell you it is $9.95 on amazon, is president kennedy's book called "nation of immigrants." it was written in the early 1960's. it will take you a couple of hours to read it again. it is a fabulous book and makes you realize that nothing has changed in the last 50 years. he talks about why we are a nation of immigrants and why that has been the strength of america. so, yes, we are all a nation of immigrants. we should remember that in these debates. but florida has an interesting process, something the all states should adopt, but every 20 years, a group of 30 citizens are awarded by the governor, the speaker of the house, the senate, supreme court, to rewrite florida's constitution, every line of it. it does not go to the legislature. all those pesky lobbyists out there do not get a chance to lobby one way or the other. goes right to the citizens of the state. took us two years to do that. we look at these issues. in florida's constitution, a quality education is now in the florida constitution. i do believe
ceiling controversy in washington. >> my favorite book just recently, and i tell you it is $9.95 on amazon, is president kennedy's book called "nation of immigrants." it was written in the early 1960's. it will take you a couple of hours to read it again. it is a fabulous book and makes you realize that nothing has changed in the last 50 years. he talks about why we are a nation of immigrants and why that has been the strength of america. so, yes, we are all a nation of...
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we're not worried about the debt ceiling crisis. we're not worried about, well, for the moment, the eu -- we have that kind of psychological factor. a healthy private sector. and the problem is what? the problem is government and bad policy. and that's what we have to offset. >> but jim iuorio, i want to know where to invest. do we buy gold, silver, and commodities? do we buy banks, which are lagging a little bit? do we buy industrial cyclicals to play the world boom, if there is such a thing? in other words, how do you invest right now, having passed this 14,000 benchmark? >> well, there's a couple things. first of all, when caterpillar released its earnings it talked about good numbers out of housing. and you stloe in china. you invest in things like copper. you know i still like gold and silver. and today with the green light from the fed i'm still going to stay in things like those. i am in bank of america. i am in health care. i think the stock market looks pretty good. you said before, though, the stock market tends to be a le
we're not worried about the debt ceiling crisis. we're not worried about, well, for the moment, the eu -- we have that kind of psychological factor. a healthy private sector. and the problem is what? the problem is government and bad policy. and that's what we have to offset. >> but jim iuorio, i want to know where to invest. do we buy gold, silver, and commodities? do we buy banks, which are lagging a little bit? do we buy industrial cyclicals to play the world boom, if there is such a...
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Feb 5, 2013
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that is called suspending the debt ceiling, you raise the debt ceiling so you put a lid on what the government can spend. when you reach your credit, they will give you another thousand dollars and that is new limit. what has now happened is capitol hill has suspended that limit, now you are going to american express card with no limit and you have given the president no limit until mid may? >> i don't think american express would like the comparison because it couldn't be as bad. [ laughter ] >> but they are limited by the appropriations process and house and senate under the constitution have the power of the purse. he is not supposed to spend important. having said that, you are right. it's a huge problem. we should not extend the debt limit again. what is coming up, it may be four to six months unless there are legally spending cuts. i proposed that legislation. it got a lot of votes on the floor but it's simple idea. reduction of spending for every dollar increase in debt limit and you get to balanced budget over ten years if you do that. >> greta: breaking news, it's an important topic.
that is called suspending the debt ceiling, you raise the debt ceiling so you put a lid on what the government can spend. when you reach your credit, they will give you another thousand dollars and that is new limit. what has now happened is capitol hill has suspended that limit, now you are going to american express card with no limit and you have given the president no limit until mid may? >> i don't think american express would like the comparison because it couldn't be as bad. [...
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so they've passed a law to temporarily not enforce that debt ceiling until may. so two big deadlines. march 1 and may 18. >> we do a lot of kicking the can. but almost always they come to a resolution in the 11th hour, like karen said. and there is some encouraging news, 157,000 new hires in january is not what they were expecting. so there some encouraging news out there. we don't have to panic. but we do need to get our pocketbooks in check. and our government has a hard time doing that. >> just because the dow is over 14,000, that's a great sign. people forget those days, 6,500 when we were at the worst of the crisis, so to be over 14,000 right now is a big deal. so we'll see what's next. >> right. let's get this going. >>> federal prosecutors are going after the huge ratings agency standards and poors with connection to the mortgage meltdown. the justice department claims that s&p kept giving top ratings to investments it's own analysts warned were two risky. >> while big bankers and lenders built mortgaged backed bombs, it was s&p's faulty ratings that deton
so they've passed a law to temporarily not enforce that debt ceiling until may. so two big deadlines. march 1 and may 18. >> we do a lot of kicking the can. but almost always they come to a resolution in the 11th hour, like karen said. and there is some encouraging news, 157,000 new hires in january is not what they were expecting. so there some encouraging news out there. we don't have to panic. but we do need to get our pocketbooks in check. and our government has a hard time doing...
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Feb 4, 2013
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then they decide not to fight on the debt ceiling and they need to move the attention on to something else. say they do have leverage elsewhere. so they have chosen sequester and put up a very brave face on it. it's possible they could convince themselves to let it actually happen but the idea that they get some sort of significant political gain from it, these are cuts they hated and they hated in large part because they hurt things they care about. so to permit the sequester to go forward on that kind of rationale is not a political win, not a policy win. everybody is losing. >> the "new york times" op-ed says more than a million jobs are on the line if this deal isn't made. a quote saying the losses will soon spread as contracts to states and cities are cut, education and police grants are cut, and payments to medicare providers are cut, even the aid just approved to victims of hurricane sandy will fall under the sequester's act. americans are about to find out what happens when an entire political party demands deficit reduction at all costs because those costs will be enormous. t
then they decide not to fight on the debt ceiling and they need to move the attention on to something else. say they do have leverage elsewhere. so they have chosen sequester and put up a very brave face on it. it's possible they could convince themselves to let it actually happen but the idea that they get some sort of significant political gain from it, these are cuts they hated and they hated in large part because they hurt things they care about. so to permit the sequester to go forward on...
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Feb 2, 2013
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we did not go over the fiscal cliff and we did not hit the debt ceiling. evidence is piling up. >> that's true. here is the thing that struck me about hagel hearings, it seemed at times that chuck hagel was surprised that these people were not happy with him. it's as if he did not read a newspaper in month. >> his response to the surge question. mccain is the biggest supporter of the surge, he led it. chuck hagel disagreed and mccain seems to be right. and hagel looked surprised by the question. in defense of molly's story and washington is getting better. that was not about dysfunction of washington, the two of them just do not like each other. that has nothing to do do with the broader things washington. the issue matrix is changing a bit. what we with saw in 2009 and 2010, when health care and economy were on the table, those are where the parties are fundamentally divided. that is going to be true. but the immigration, there's not the same divide with them. so it's not a polarizing issue with john kerry. part of the reason we are seeing less dysfunctio
we did not go over the fiscal cliff and we did not hit the debt ceiling. evidence is piling up. >> that's true. here is the thing that struck me about hagel hearings, it seemed at times that chuck hagel was surprised that these people were not happy with him. it's as if he did not read a newspaper in month. >> his response to the surge question. mccain is the biggest supporter of the surge, he led it. chuck hagel disagreed and mccain seems to be right. and hagel looked surprised by...
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. >> first they argue the debt ceiling was their leverage. then they realize politically that was problematic for them. now that we resolved that at least for now although we still have to deal with it down the road, you've got deficit reduction that they perceived to be their leverage through shutting the government down or allowing what both republicans and democrats agree is an unacceptbly large set of spending cuts in the sequester which were designed to incentivize us to sit down. we're not going to be able to deal with this by march 2nd. let's make sure we avoid those cuts. >> absolutely. >> so here's what i think we have to look out for. i was up on the hill testifying this morning, and i'm picking up the following. i think what republicans would like to do is actually cancel the defense part of the sequestration and shift those cuts on to the non-defense side. that must be avoided. look, first of all in my view all these cuts ought to be avoided the way the president was talking about today. but what i just described absolutely must b
. >> first they argue the debt ceiling was their leverage. then they realize politically that was problematic for them. now that we resolved that at least for now although we still have to deal with it down the road, you've got deficit reduction that they perceived to be their leverage through shutting the government down or allowing what both republicans and democrats agree is an unacceptbly large set of spending cuts in the sequester which were designed to incentivize us to sit down....
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Feb 5, 2013
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republicans acted in that direction by putting off the debt ceiling a couple of months until may as hampton mentioned a minute ago. the president is going to propose the same thing on the budget sequester but not, according to a white house official, laying out his own plan. he's going to call on congress to do that and expected response from republicans, tyler, is, hey, mr. president, where are your cuts, we want to see them. >> john harwood, thank you very much. once again you will see the president's address live right here on "power lunch" in just a few moments. before that occurs, we have a triple digit advance. the market added to advances a few moments ago when we got budget figures. the dow up 109 points. the nasdaq up 34 and the s&p 500 is up 14 points. more on the trading action right here from bob pisani. he joins me on the floor of the nyse. it's almost like yesterday didn't happen. >> the important thing is, i know it doesn't seem terribly exciting but we are 14,000, we're a couple of points from a historic high from the dow jones industrial. we've been up a couple points throu
republicans acted in that direction by putting off the debt ceiling a couple of months until may as hampton mentioned a minute ago. the president is going to propose the same thing on the budget sequester but not, according to a white house official, laying out his own plan. he's going to call on congress to do that and expected response from republicans, tyler, is, hey, mr. president, where are your cuts, we want to see them. >> john harwood, thank you very much. once again you will see...
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>> the sky will fall if you don't deal with the debt ceiling. but i think unfortunately, this is the price that we pay in the fiscal cliff deal. the democrats paid. i said at the time that i thought it was a short term victory for the democrats, but a long term victory for the republicans because we gave away our leverage on tax increases. so, sure, i have no objection to giving away the carried interest on some of the projects and loophole, but the fact is we're not in position to do that and i think we ought to get serious about the deficit and the best way to get serious about the deficit is go right over the cliff. the likelihood of having a real agreement between the white house and the conservative republicans is pretty close to zero. so i think we should take our medicine now. i don't think our sky are fall if we take the sequesters. i think from a democratic view, it's the only way we'll get the kind of defense cuts that we really need to get and we need to take our medicine. >> what i'm hearing is you disagree with the president and you
>> the sky will fall if you don't deal with the debt ceiling. but i think unfortunately, this is the price that we pay in the fiscal cliff deal. the democrats paid. i said at the time that i thought it was a short term victory for the democrats, but a long term victory for the republicans because we gave away our leverage on tax increases. so, sure, i have no objection to giving away the carried interest on some of the projects and loophole, but the fact is we're not in position to do...
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Feb 1, 2013
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today the senate agreed with the house and passed an extension of the debt ceiling, raised the debt ceiling for the future. and i didn't vote for that. there were no cuts included in that bill. the only cut that we have ever come up with is this 1.2 trillion, because the committee, the special select committee couldn't come up with a spending reductions, were now going to have as part as sequestration. i don't really believe in across the board cuts. i think that's irresponsible. but in the absence of cutting spending someplace to replace those 1.2 -- >> got to take it where you get it. >> it's not the only way we're going to get it. >> it's never a good time to cut spending. it's one of the things i've learned. i guess i saw it years ago when i worked down there. but reporting on this thing night after night, one of the things i learned, senator moran, is it's never a good time to cut spending. so march 1st is an interesting deadline. >> i'm not voting to set the sequester aside unless we cut the 1.2 trillion someplace else. >> good luck on that. senator jerry moran of kansas, thank you ve
today the senate agreed with the house and passed an extension of the debt ceiling, raised the debt ceiling for the future. and i didn't vote for that. there were no cuts included in that bill. the only cut that we have ever come up with is this 1.2 trillion, because the committee, the special select committee couldn't come up with a spending reductions, were now going to have as part as sequestration. i don't really believe in across the board cuts. i think that's irresponsible. but in the...
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Feb 6, 2013
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the republicans said -- >> the debt ceiling. >> -- and wall street came in and said, yes, you are. and now on immigration reform the president is appealing to the people who understand what responsible immigration reform can mean for business and the economy. he's actually not getting democrats to beat the republicans. he's getting republicans to beat the republicans. it's a great strategy. >> what do you make of it, michael, from the other side? jimmy carter was accused of having too many balls in the air when he was president. this time the president wants to throw a lot at the republicans and keep them off guard. >> it reminds me of 2009 all over again. instead of focusing on the paramount issue that every american is still facing, the jobs, the economy -- >> what's the republican job program? >> it's not about the republican job -- >> you just brought it up. what's your party's program? >> you're asking about the president, let me address the president. didn't ask about the republicans. you asked me about the president. i'm telling what you the president is doing. my analysis o
the republicans said -- >> the debt ceiling. >> -- and wall street came in and said, yes, you are. and now on immigration reform the president is appealing to the people who understand what responsible immigration reform can mean for business and the economy. he's actually not getting democrats to beat the republicans. he's getting republicans to beat the republicans. it's a great strategy. >> what do you make of it, michael, from the other side? jimmy carter was accused of...
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where i think republicans thought especially since they put off the debt ceiling fight they'd be able to take control of this issue. >> let's play what mitch mcconnell said just yesterday slamming the democrats for floating new revenue proposals. >> this is just another opportunity to trot out the democrat focus group approved policy stunt. if this is another fake fight designed by the white house to push us to the brink, then republicans are really not interested in playing along. >> molly, another fake fight. as it was described by mitch mcconnell there. but we know when you look at polling and watched since the end of the year, the polls show it's republicans who come up short where people believe they're presenting the fake fight, at least some of the polling. >> well, it is interesting to hear mcconnell describe it as focus group approved. they believe public opinion on their side and if there is what is viewed as gridlock and dysfunction in washington, republicans are blamed by that. i think the white house concluded, looking back on the last four years, that every time republic
where i think republicans thought especially since they put off the debt ceiling fight they'd be able to take control of this issue. >> let's play what mitch mcconnell said just yesterday slamming the democrats for floating new revenue proposals. >> this is just another opportunity to trot out the democrat focus group approved policy stunt. if this is another fake fight designed by the white house to push us to the brink, then republicans are really not interested in playing along....